Heard on the Street — Jeff Kiger column sig

CHATFIELD — A recently built, high-profile retail complex in Chatfield sold for $1.18 million last week.

Real estate deals are still happening, even as the COVID-19 pandemic has brought much daily commerce to a temporary halt.

Coats Development LLC of Byron, led by Michael E. Coats, purchased the building occupied by Dollar General at 5 Grove St., near U.S. 52 in the extended Chatfield downtown. The deal closed on March 17.

Dollar General at 5 Grove St. in Chatfield

The  Dollar General building at 5 Grove St. in Chatfield has been sold, but the store is expected to remain. (Submitted photo)

Coats Development, which paid a $20,000 down payment, purchased the building from DGI Development Corp. of Appleton, Wis.

It appears to be a real estate investment, so Dollar General is expected to remain active as a long-term tenant.

DGI worked closely with the City of Chatfield and the Community and Economic Development Associates led by Chris Giesen to build this 7,500-square-foot store in 2019. DGI paid $210,000 to the Chatfield Economic Development Authority in February 2019 for the 1.89 acre property.

Chatfield retail building sold

Chatfield retail building sold

Dollar General has more than 50 stores in Minnesota, including ones in Kasson and Pine Island.

Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in Heard on the Street. Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger. You can call him at 285-7798.

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